14/09/2022
The Boldest Decision taken by President William Ruto yesterday was bringing to an end the FUEL SUBSIDY.
The Subsidy was just a way of a few people making money including Multi-Nationals.
Kenyan tax payers were paying to assure those people Profit.
While that was going on, the cost of Living remained high.
Instead, President Ruto, in his speech took the bolder decision of making Fertilizer available at Shs. 3,500.
He mentioned seed and farm inputs is next.
That way, farmers get empowered, food eventually is produced at lower prices and inflation is checked.
That is the hardworking that the past ignored - but someone needed to bite the bullet and The President on day one did exactly that.
Fuel subsidy has cost Kenya 144B.
60B of that was in the last 4 months. If Kenya went on it would cost country 280b by end of 2022 financial year.
Fuel prices will as a result shoot up, but the solution will begin, end of shortcuts aimed at benefitting a few.
If you missed that part of the speech, read again and benefit from the discussion underpinning the decision.
Very Bold Decision, in my view.
